Could You Lose Out on Catch-Up Contributions Next Year? Find Out Now!
The SECURE 2.0 Act, introduced last year, significantly altered retirement account regulations. Some modifications have already been implemented, leading to confusion, especially among older individuals trying to navigate essential retirement planning decisions, like when to take required minimum distributions (RMDs). A particular area of concern is the forthcoming adjustments to the rules surrounding catch-up contributions for 401(k) plans. Initially set to be effective in 2024, these changes will necessitate catch-up contributions for those with higher …